Blow to the UK as European Medicines Agency prepares to leave

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no they have been in London for 22 years ago.

They moved to Canary wharf 3 years ago on a 25 year lease so 22 years to go.

It does rather seem like a political rather than practical decision.

It is political. Kicking the UK before the official talks start.

[sasguru]

Medical startups will have to have their products and services approved in the EU, if they'll want to sell them over there. ...

The pharmaceutical market, more than others, is indeed dependent on size. With the NHS increasingly rationing drugs, and with the centre of drug approval now moving to the continent, and concerns about recruiting skilled staff, I suspect the hitherto burgeoning startup scene around pharma, HEOR, health data science and so on will be severely affected. As I mentioned I already know of one successful middle tier firm moving abroad and rumours of 2 more.

[sasguru]

no they have been in London for 22 years ago.

They moved to Canary wharf 3 years ago on a 25 year lease so 22 years to go.

It does rather seem like a political rather than practical decision.

Well you can't have the European Medicines Agency in a non European country, can you?
Will be interesting to see what happens to Euro trading in London, too.

[PurpleGorilla]

It amazes me how as the second largest contributor to the EU budget the UK only had one EU institution...

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It amazes me how as the second largest contributor to the EU budget the UK only had one EU institution...

Don't forget the EBA.

[sasguru]

It amazes me how as the second largest contributor to the EU budget the UK only had one EU institution...

Well they're pretty much spread round Europe.
The UK had 2 of the most prestigious and important: European Medicines Agency and European Banking Authority.
Wonder if the latter will stay.
Germany has 3 : Aviation and a couple of minor ones.

[BrilloPad]

Well either we create our own regulatory and approval body (or enhance the existing powers of MHRA) with all the concomitant duplication of effort and wasted time leading no doubt to delays in approval of vital drugs or we accept the European approvals process without any input into it.

So what do Switzerland do?

[PurpleGorilla]

Well they're pretty much spread round Europe.
The UK had 2 of the most prestigious and important: European Medicines Agency and European Banking Authority.
Wonder if the latter will stay.
Germany has 3 : Aviation and a couple of minor ones.

You reckon it's an even spread [emoji23]

[sasguru]

Well they're pretty much spread round Europe.
The UK had 2 of the most prestigious and important: European Medicines Agency and European Banking Authority.
Wonder if the latter will stay.
Germany has 3 : Aviation and a couple of minor ones.

Nope the EBA is going also

EU banking watchdog to leave London in case of Brexit - chairman | Reuters

[sasguru]

So what do Switzerland do?

Part of European approvals process.